Borrow Money to Buy a Rita's Real Italian Water Ice Franchise

Borrowing money to invest in a Rita's Real Italian Water Ice franchise? Cardinal Bank has a history of making these loans and they are guaranteed by the SBA.

Getting money to buy a Rita's Real Italian Water Ice franchise may simply require a phone call to a local SBA banker. In 2007, Cardinal Bank issued an SBA franchise loan to an entrepreneur in Stafford, Virginia. Because Rita's Real Italian Water Ice was registered with the SBA's registry of franchises, this Virginia small business loan was issued on an expedited basis.

SBA Loan Borrower

OPTIMUS HOLDINGS, LLC D/B/A RITA'S WATER I
STAFFORD, VA 22554

SBA Loan Lender

CARDINAL BANK
8270 GREENSBORO DR, STE 500
MCLEAN, VA 22102

This lender provides SBA loan for small businesses as part of the SBA's Preferred Lender Program (PLP). SBA PLP lenders are chosen from among the SBA's best lenders and have full delegation of lending authority in most situations.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

311520 - Ice Cream and Frozen Dessert Manufacturing

Loan Approval Date

11/14/2007

Loan Approval Gross Amount

$128,000

Loan Approval from the SBA

Of the total $128,000 loan amount, the SBA guaranteed $108,800.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was used to buy a Rita's Real Italian Water Ice franchise. At the time of the loan, the company had 3 employees. The SBA loan documents indicated that the loan would help generate 3 new jobs and retain 3 existing jobs.

Great, But How Can I Get an SBA Loan for My Business?

SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress.

The SBA is important source of financing for entrepreneurs like you. Take this loan, for example. The company needed a loan. Cardinal Bank had a strong track record in business lending, and with the SBA stepping up and agreeing to guarantee part of the loan, Cardinal Bank made the loan. The end result was that this firm was given the opportunity to grow their business and enhance the lives of their employees and customers.

The process for getting an SBA loan is relatively straight-forward. Sit down with your banker and they will explain the process in detail.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

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